Vermilion, OH Cost of Living

Vermilion cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

Displayed above is a general overview of the Vermilion, OH cost of living index. The overall cost of living index in Vermilion, OH is 97, which is 7% higher than the Ohio average and 3% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Vermilion, OH are 7% higher than the Ohio average and 6% higher than the national average.

Did you know?

The cost of living in Vermilion is 7% higher than the Ohio average.

The cost of living in Vermilion is 3% lower than the national average.

The cost of housing in Vermilion is 25% lower than the national average.

Compare Vermilion, OH Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

Use the salary calculator to compare your current salary in Vermilion, OH to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Vermilion, OH, then you would need to earn more income in order to maintain the same standard of living. To use the Vermilion, OH salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$62,681

$5,223

$1,462

$1,881

Renters

$25,873

$2,156

$604

$776

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Vermilion, OH as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Vermilion, OH homeowners, is $62,681. This would allow for a maximum of $1,462 per month to be spent on housing costs. For renters, the median monthly income is $25,873 which would result in a maximum of $604 to be spent on rental costs.

Ohio Sales Tax

State

General Sales Tax

With Max Surtax

Ohio

5.75%

8%

Ohio Income Tax

State

Income Tax (Low)

Income Tax (High)

Ohio

0.5%

5%

The Ohio sales tax and Ohio income tax rates should definitely be considered when determining the overall cost of living in Vermilion, OH. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Ohio sales tax is 5.75% and the maximum surtax is 8%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Ohio income tax rates range from 0.5% to 5%.

Goods & Services

Item

Vermilion

National avg.

Difference

Haircut

$17.33

$16.03

8.1%

Beauty Salon

$36.88

$37.37

1.3%

Toothpaste

$2.63

$2.44

8.1%

Shampoo

$0.99

$1.00

0.8%

Movie

$10.63

$10.25

3.7%

Bowling

$4.78

$4.94

3.2%

Groceries

Item

Vermilion

National avg.

Difference

Ground Beef

$5.03

$3.79

32.8%

Fried Chicken

$2.05

$1.39

47.3%

Milk

$1.88

$2.00

6.0%

Potatoes

$2.47

$3.00

17.9%

Pizza

$10.49

$9.83

6.7%

Beer

$8.16

$8.88

8.1%

Health Care

Item

Vermilion

National avg.

Difference

Optometrist

$80.26

$101.83

21.2%

Doctor

$110.20

$108.31

1.7%

Dentist

$90.67

$92.21

1.7%

Ibuprofen

$10.33

$9.28

11.4%

Lipitor

$460.86

$424.43

8.6%

Housing

Item

Vermilion

National avg.

Difference

Home Price

$131,900.00

$184,700.00

28.6%

Avg. Mortgage Payment

$1,011.93

$1,201.80

15.8%

Apartment Rent

$801.00

$949.00

15.6%

Transportation

Item

Vermilion

National avg.

Difference

Gasoline

$2.24

$2.24

0.4%

Tire Balancing

$50.35

$46.16

9.1%

Utilities

Item

Vermilion

National avg.

Difference

All Electricity

$157.80

$165.42

4.6%

Phone

$33.53

$28.71

16.8%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.